Quanta Services, Inc. Q1 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Highlights

  • Revenue of $2.7 billion, up from $2.76 billion in Q1 2020 (flat year over year).
  • GAAP diluted EPS of $0.62 (up from $0.47 in Q1 2020); adjusted diluted EPS of $0.83 (up from $0.73).
  • Record total backlog of $15.8 billion, up from $15.0 billion at year-end 2020 and up significantly year over year.
  • 12‑month backlog rose to $8.9 billion, reflecting strong forward demand.
  • Free cash flow was $49 million, down from $164 million in Q1 2020, mainly due to prior-year insurance recoveries.

Business Segment Performance

Electric Power Solutions
  • Revenue: $2.1 billion, up 17 percent from Q1 2020.
  • Operating margins: 9.7 percent, up from 7.3 percent in Q1 2020.
  • Drivers included grid modernization, system hardening, renewable interconnections, and record emergency restoration services (approx. $80 million).
  • Margins benefited from higher utilization and $5 million in LUMA Energy income.
  • Telecom operations within the segment experienced issues due to subcontractor quality problems, producing a quarterly loss, but expected to return to high single‑digit or double‑digit margins.
  • Signed a major multiyear MSA with a large Western U.S. utility, contributing significantly to backlog.
Underground Utility & Infrastructure Solutions

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Greetings and welcome to Quanta Services First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder this conference is being recorded. I would now like to turn the conference over to your host Kip Rupp, Vice President Investor Relations. Please, go ahead, sir. Kip Rupp: Great. Thank you and welcome everyone to the Quanta Services first quarter 2021 earnings conference call. This morning we issued a press release announcing our first quarter results, which can be found in the Investor Relations section of our website at quantaservices.com, along with a summary of our 2021 outlook and commentary that we'll discuss this morning. Additionally, we'll use a slide presentation this morning to accompany our prepared remarks, which is viewable through the call's webcast and also available on the Investor Relations section of the Quanta Services website. Please remember that information reported on this call speaks only as of today May 6, 2021, and therefore you're advised that any time-sensitive information may no longer be accurate as of any replay of this call. This call will include forward-looking statements intended to qualify under the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. These include all statements reflecting Quanta's expectations, intentions, assumptions or beli

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional